Prospect Financial Group LLC Takes $384,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Prospect Financial Group LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 1,656 shares of the semiconductor manufacturer's stock, valued at approximately $384,000.

Other hedge funds have also added to or reduced their stakes in the company. Dudley Capital Management LLC lifted its holdings in shares of Broadcom by 8.9% in the fourth quarter. Dudley Capital Management LLC now owns 12,070 shares of the semiconductor manufacturer's stock worth $2,798,000 after acquiring an additional 990 shares during the last quarter. Haverford Trust Co increased its position in Broadcom by 2.3% during the 4th quarter. Haverford Trust Co now owns 21,415 shares of the semiconductor manufacturer's stock worth $4,965,000 after purchasing an additional 475 shares in the last quarter. Prudential Financial Inc. lifted its stake in shares of Broadcom by 1.4% in the 4th quarter. Prudential Financial Inc. now owns 4,568,975 shares of the semiconductor manufacturer's stock valued at $1,059,271,000 after acquiring an additional 64,201 shares during the last quarter. Hirtle Callaghan & Co LLC bought a new stake in Broadcom during the 4th quarter worth $204,000. Finally, Interchange Capital Partners LLC increased its holdings in Broadcom by 4.1% in the 4th quarter. Interchange Capital Partners LLC now owns 7,502 shares of the semiconductor manufacturer's stock worth $1,740,000 after purchasing an additional 297 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 785,976 shares of company stock valued at $147,912,102. Corporate insiders own 2.00% of the company's stock.

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Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Rosenblatt Securities restated a "buy" rating and set a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Susquehanna boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a report on Friday, December 13th. Mizuho dropped their price target on shares of Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research note on Friday, March 7th. Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $231.48.

Broadcom Stock Down 1.7 %

Shares of Broadcom stock traded down $2.87 during trading hours on Friday, reaching $169.12. The company's stock had a trading volume of 30,361,772 shares, compared to its average volume of 30,371,173. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock's fifty day simple moving average is $209.48 and its two-hundred day simple moving average is $195.91. The company has a market capitalization of $795.19 billion, a P/E ratio of 137.95, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.40%. Broadcom's dividend payout ratio (DPR) is currently 113.46%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.